Nova Academy
- Assets
- $11.7m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 87
- Location
- Santa Ana, CA
- Founding
- 09/2006
- Data as of
- 06/2022
- EIN
- 32-0079174
Organization Overview
Nova Academy is located in Santa Ana, CA. The organization was established in 2006. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Nova Academy employed 87 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nova Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Nova Academy generated $10.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $11.3m during the year ending 06/2022. While expenses have increased by 8.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE AND PREPARE ALL STUDENTS TO BE SUCCESSFUL IN COLLEGE, CAREER AND LIFE. NOVA ACADEMY IS DEDICATED TO THE VISION OF PROVIDING UNDERREPRESENTED STUDENTS ACCESS TO AN ACADEMICALLY RIGOROUS, BLENDED HIGH SCHOOL/COLLEGE CURRICULUM,
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOVA ACADEMY PROVIDES EDUCATION AT AN EARLY COLLEGE LEVEL FOR HIGH SCHOOL STUDENTS, GRADES 9-12. IT OPERATES TWO CHARTER SCHOOLS THAT WORK IN PARTNERSHIP WITH THEIR RESPECTIVE SCHOOL DISTRICTS. BOTH CHARTERS SCHOOLS OFFER DUAL ENROLLMENT WITH OPPORTUNITIES FOR STUDENTS TO TAKE TRANSFERABLE COLLEGE COURSES FROM COMMUNITY COLLEGE, PRIVATE COLLEGES AND FROM THE UNIVERSITY OF CALIFORNIA SCHOOLS. AT BOTH LOCATIONS, STUDENTS ARE ABLE TO ENROLL IN COLLEGE COURSES CONCURRENTLY WITH CHARTER SCHOOL CLASSES IN ORDER TO SUCCESSFULLY TRANSITION INTO HIGHER EDUCATION AFTER HIGH SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Renee Lancaster Chief Executive Officer | OfficerTrustee | 40 | $209,999 |
Sanford Otsuji Chair | OfficerTrustee | 2 | $0 |
Dr Susan Garrett Vice Chair | OfficerTrustee | 2 | $0 |
Norm Lester Secretary | OfficerTrustee | 2 | $0 |
Karen Lester Treasurer | OfficerTrustee | 2 | $0 |
Olga Duarte Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Orange Crew Inc It Services | 6/29/22 | $275,670 |
Charter Impact Inc Back Office Service Provider | 6/29/22 | $186,911 |
Diversified Thermal Services Hvac Services | 6/29/22 | $136,905 |
Allied Universal Security Services Security Guards | 6/29/22 | $100,811 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,762,648 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,729 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,848,377 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,848,377 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $442,749 |
| Compensation of current officers, directors, key employees. | $442,749 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,137,464 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,445,478 |
| Payroll taxes | $155,440 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,251,475 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $114,393 |
| Office expenses | $24,607 |
| Information technology | $206,036 |
| Royalties | $0 |
| Occupancy | $1,550,812 |
| Travel | $3,137 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $57,403 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $78,303 |
| Insurance | $119,906 |
| All other expenses | $71,028 |
| Total functional expenses | $11,264,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,132,753 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,800,904 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $158,679 |
| Net Land, buildings, and equipment | $568,459 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,000 |
| Total assets | $11,670,795 |
| Accounts payable and accrued expenses | $4,122,055 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,122,055 |
| Net assets without donor restrictions | $7,548,740 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,670,795 |